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60 Cards in this Set

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_____ are people willing to take the risk of starting, owning and operating a business.

Entrepreneurs

Kyle is the credit manager for Timber Trails, Inc. a local landscaping company. Just recently, his mulch supplier noted on the invoice the terms of 3/15 net 30. What does this mean?

Timber Trails will get a 3 percent cash discount if the balance owed to the supplier is paid within the 15 days; otherwise the entire balance is due in 30 days.

The_____is a broad stock index that includes many of the largest and best-known US corporations.

Standard & Poor's 500

In business communications, conciseness_______

is desirable, as long as it isn't at the expense of completeness.

_____ are wealthy individuals who invest in new and growing firms.

angel investors



Stockholders are _______ of a corporation. They have the right to vote on issues affecting the operation of the business.

owners

_____encompasses the routine procedures involved in recording financial transactions, while _______ goes further by analyzing and interpreting this info and communicating the results to the stakeholders.

Bookkeeping & accounting

_______ accountants combine their knowledge of accounting with investigative skills. These accountants can help detect and investigate tax evasion, embezzlement, money laundering, and securities fraud.

Forensic

______are professionally managed funds that pool the contributions of thousands of investors.

Mutual funds

A______ maintains limited liability but offers more flexibility in terms of tax treatment than other forms of business ownership.

limited liability partnership

four basic financial rations are:

liquidity, asset management, leverage and profitability

A(n)_______ measures the ability to pay shot-term liabilities as they come due.

liquidity ratio

Financial planning asks all of the following questions EXCEPT;

How does the firm determine it's pricing strategy?

______ are companies that provide short-term financing to firms by purchasing accounts receivable at a discount.

factors

A key advantage of a corporation is that:

the owners maintain limited liability.

Taken together, the body of principles that guides the financial accounting process used to create financial statements is referred to as:

GAAP (Generally Accepted Accounting Principles)

Burger king, McDonald's, Wendy's and Hardee's are examples of:

Business franchising

a_______ allows you to make purchases now and to defer the payment into the future.

credit card

A_______ measures the extent to which a from relies on debt to meet its financing needs.

leverage ratio

the firs step to developing a budget is analyzing your:

revenues and expenses.

Finding ways to improve _______ is likely to a major challenge for globL firms that have employees, customers, and other stakeholders in several different countries.

intercultural communication

In a _______ two or more companies agree to a combination of equals, creating one new company from the two previously independent companies.

merger

In communications, the term______ refers to any interference that causes the message received by the audience to be different from the sender's intended message.

noise

which of the following questions would an entrepreneur most likely ask in the aftermath of business failure?

what can i learn from this experience that will help me be more successful in the future?

the________ is an index based on the adjusted average price of stocks of 30 major corporations picked by editors of the Wall Street Journal.

Dow Jones Industrial Average

Excellent communications skills:_______

can dramatically imp roe your chances for business success.

one characteristic many successful entrepreneurs share includes:

vision

Which of the following statements is the rationale for the accounting equation?

what the firm owns minus what it owes creditors equals what it is worth to its owners.

Walmart, ExxonMobil, Intel, and virtually all other large companies in the US are organized as:

C-corporations

The majority of new small businesses owners rely heavily on _______ to finance their start-ups.

personal sources, including family friends and credit cards.

______are companies that invest in start-up businesses with high growth potential in exchange for an ownership stake.

venture capital firms

Financing provided by a firm's owners is classified as______ financing.

equity

A______ is the communication channel with the highest level of channel richness and is used to deliver complex and individualized messages.

Face-to-face meeting.

______ are the after-tax distribution of profits to corporate owners.

dividends

effective communication occurs when you can transmit ______ to your audience

meaning

Susanne likely was just elected to the board of directors at United bank corporation. As a board member, she is expected to represent the interests of:

shareholders

in low-income countries, a higher percentage of entrepreneurs are considered:

necessity entrepreneurs

In its narrowest sense, a firm's _____ consists of its holdings of currency and demand deposits.

cash

A nonprofit corporation enjoys the benefit of:

earnings that are exempt from state and federal taxes.

responsible use of credit card requires:

self-discipline

One of the reasons people tend to have a hard time listening effectively is that they_______

can think at a much faster rate than they can listen.

In the ______ corporation raise additional financial capital by issuing and selling new securities, while in the________ investors trade previously issued securities.

primary market & secondary market

Entrepreneurs tend to have an internal locus of control. this means they:

have a sense that they are personally responsible for what happens in their lives.

a stockholder will recognize a_______ if upon selling his shares, he receives a higher price/share than the original price/share that he paid for the stock.

capital gain

cash equivalents include all of the following EXCEPT:

inventory

the party in a franchise relationship that pays for the right to use resources supplied by another business entity is known as the:

franchise

_____ is/are what the firm owes its creditors

liabilities

the key elements of a credit policy would include all of the following EXCEPT:

evaluating the appropriate stock of inventory needed to meet credit sales.

When a firm reinvests some of its net income rather than distributing it to owners, the result is an increase in the firm's:

retained earnings

the majority of businesses today are formed as______

sole proprietorships

Pop goes the weasel is a small toy store that competes effectively with the much larger companies, since it focuses exclusively on selling non electronic toys made of wood. the company has been successful since it has:

exploited a market niche

a manager's facial expressions, posture and gestures are examples of __________

nonverbal communication

advantage of a corporation include all of the following EXCEPT:

less paperwork and government regulation.

while _________ is concerned with preparing financial statements for external stakeholders according to a fixed schedule, _______ provides info to internal stakeholders on an "as needed" basis.

financial accounting ______&_____ managerial accounting

A _____ is a voluntary agreement between two or more people to jointly own a business

partnership

financial managers use ______ to assess the financial strengths and weakness of their firm.

ratio analysis

the three basic types of securities corporations issue to raise long-term financial capital are_____

stocks, commercial paper and debentures

the _____ budget deals with the firm's plans for investing in major fixed assets and long term projects

long-term

an auditor issuing ____ has uncovered serious widespread problems with the preparation of a firms financial statements

adverse opinion

managerial accounting serves the needs of a firm's ________?

mangers